Tariff Volatility Peters out, Stocks Fall Marginally

U.S. stocks gyrated on Tuesday, as investors analyzed the latest batch of first-quarter earnings reports and enjoyed a recent decline in market turmoil.

The Dow Jones Industrials changed direction and fell 155.83 points to end Tuesday at 40,368.96.

The S&P 500 folded 9.34 points to 5,396.63.

The NASDAQ Composite slid 8.32 points to 16,823.17.

Bank of America gained 4% and Citigroup added more than 2%, after exceeding analyst expectations for the first quarter.

Other major reports due this week include United Airlines and Netflix. Beyond earnings, Boeing shares slipped close to 2% after Bloomberg reported that Beijing ordered Chinese airlines not to take more of the company’s planes.

Despite recent gains, the three major indexes are still clawing back losses seen in the wake of Trump’s original tariff announcement on April 2. The Dow and NASDAQ have each slid more than 3%, while the S&P 500 has dropped more than 4%.

Tuesday’s action came after the major stock indexes ended Monday’s session higher, buoyed by the tech sector.

Stocks received a tailwind after guidance on Friday from U.S. Customs and Border Protection revealed exemptions from “reciprocal” tariffs for electronic products such as smartphones, computers and semiconductors.

Still, comments from President Donald Trump and Commerce Secretary Howard Lutnick on Sunday suggested these exemptions might only be temporary.

Prices for the 10-year Treasury gained ground Tuesday, pushing yields down to 4.33% from Monday’s 4.38%. Treasury prices and yields move in opposite directions.

Oil prices gained 62 cents to $61.55 U.S. a barrel.

Prices for gold acquired $19.10 to $3,245.40U.S.